Q: Is this fraud and if so, do I have legal recourse to do anything about it?
When my mother died in 2019, I unwittingly inherited a $100K Wells Fargo home equity loan from 2011 that it's my understanding was never paid back, either by her or by my late father. She had been claiming to pay off the loan using my SSI funds, and only in 2022 did I find out that was not true. I also was made aware that she may have forged my father's signature on the loan. I currently live in this house by myself due to having no where else to go, but I've made new efforts to leave, now that I can. However, the house also has tax liens on it that I wasn't aware of, and is in dire need of repair. A lot was kept from me. I intend to stay here as long as I'm able, and move into my apartment once there is a room for me. I am to further understand that Wells Fargo put $50,000 in escrow for insurance. I don't know what to do. I'm a disabled and poverty-stricken college student simply trying to survive. My extended family and I would benefit greatly from speaking with someone. Thank you.
A: While an estate can owe funds for debt of a decedent which can be deducted from the distribution of their assets, you would not be liable on a loan you did not sign (in other words, you cannot “inherit” a loan). You can, however, inherit real estate and that real estate may be encumbered by a mortgage. You may have certain options as an heir to your mother’s estate, but a lot will depend on the myriad factual circumstances. It would therefore be wise to seek competent counsel with regard to your rights and obligations in this property.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.